Company Registration No. SC315853 (Scotland)
A&M Wallace Ltd
Abbreviated unaudited accounts
for the year ended 31 March 2016
A&M Wallace Ltd
Abbreviated Balance Sheet
as at
31 March 2016
Intangible assets
17,780
17,780
Tangible assets
5,659
6,105
Cash at bank and in hand
46,434
39,207
Creditors: amounts falling due within one year
(59,298)
(36,264)
Net current (liabilities)/assets
(4,972)
8,701
Called up share capital
100
100
Profit and loss account
18,367
32,486
Total shareholders' funds
18,467
32,586
For the year ending 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Approved by the board on 11 July 2016
Mrs Marian Wallace
Director
Company Registration No. SC315853
A&M Wallace Ltd
Notes to the Abbreviated Accounts
for the year ended 31 March 2016
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% reducing Balance
Fixtures & fittings
20% reducing Balance
Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives. Impairment of intangible fixed assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
2
Intangible fixed assets
Other
3
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
At 1 April 2015
11,739
13,293
25,032
At 31 March 2016
12,707
13,293
26,000
At 1 April 2015
7,864
11,063
18,927
Charge for the year
968
446
1,414
At 31 March 2016
8,832
11,509
20,341
At 31 March 2016
3,875
1,784
5,659
At 31 March 2015
3,875
2,230
6,105
A&M Wallace Ltd
Notes to the Abbreviated Accounts
for the year ended 31 March 2016
4
Share capital
2016
2015
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100